“Stand-alone” HRAs one step closer to compliance
UPDATE: President Obama is expected to sign the measure into law soon after it reaches his desk, meaning a solution for beleaguered small businesses is on the way. Once enacted, a Small Business HRA will allow qualified entities to use tax-advantaged funds to reimburse employees for individual health insurance premiums and other out-of-pocket medical expenses. (Note: This change does not affect integrated or one-employee HRA plans that are already compliant with federal law.)
This legislation provides a tremendous opportunity for those small employers who do not offer group health but want to assist their employees with ever rising health care costs. Be on the look-out for additional communications from TASC (including here at Capital Connection) in the coming weeks to ensure peace of mind for our Providers, Clients and Participants. We’ve got you covered!
For additional details on this topic, please see our previous posts:
Lawmakers reach tentative deal to expand small biz health options (Nov. 28, 2016) https://tasccapitalconnection.com/2016/11/28/lawmakers-reach-tentative-deal-to-expand-small-biz-health-options/
Stand-alone HRAs making a comeback? (June 30, 2016) https://tasccapitalconnection.com/2016/06/30/stand-alone-hras-making-a-comeback/